State Senate Approves Plan For Middle Class Tax Break, Millionaire Tax Hike

 

NY1 wrote about the recent Albany passing of the change in the state's tax code, which will essentially up the taxes for the wealthy in New York and give breaks to millions of other residents. Senator Gianaris supports this change, hoping that during these difficult economic times, this tax break will benefit middle class families in New York.

Albany lawmakers on Wednesday passed a major overhaul of the state's tax code that will mean higher taxes for the wealthiest New Yorkers and a tax break for millions of residents, pending the approval of the State Assembly.

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“I think the governor has done a terrific job. At a moment of unprecedented wealth disparity throughout the country, especially here in New York, the idea of making the tax code more progressive and giving a break to middle class families is exactly the right direction to be going, and I credit Governor Cuomo for taking us that way,” state State Senator Michael Gianaris of Queens.

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Publication date: 
Thursday, December 8, 2011 - 00:00